How to find a top manager and save time and money
Why expensive direct search technology ( Executive Search ) is a strategically correct and economically justified approach to the selection of executives and rare specialists.How to find a top manager and save time and money. Photo 1
Case: A privately owned trading and manufacturing company was looking for a CFO who would support the company's growth plan and transition to new management. The company planned to find a specialist in 2 months, but the task turned out to be difficult: candidates of interest to the company were not ready to relocate to the regional center where the company's office was located.
The company turned to a recruiting agency with a reputation for being the best in selecting top managers. An Executive Search specialist developed a search strategy, created a profile of the ideal candidate, defined search zones and identified 20 candidates at the regional and national level. These were financial directors, deputy financial directors, and finance managers.
Of the five selected candidates, the finalist had the virtual phone number service optimal combination of experience, financial knowledge and leadership qualities.
The client agreed to prepare a transition plan for the new financial director, with compensation for expenses related to moving with his family from the capital to the region, provision of housing, and an increase in the amount of compensation.
The cost of the Executive Search service was 14% of the candidate's annual salary. The search took 1.5 months. With the relocation period, the new director started work after 2.5 months.
Upon joining the company, the finance manager provided a clear picture of past and current financial operations and future forecasts, and created a new management team structure.
A trading and manufacturing company used the Executive Search service and received an experienced top manager who met the stated selection criteria and within the established time frame.
Advantages of Direct Search
How to find a top manager and save time and money. Photo 2
The company entrusted the search for a financial director to Executive Search consultants, who:
Manage the process of searching for and hiring top managers and rare specialists.
Have experience in creating a profile of an ideal candidate with formulations of professional and personal requirements for the candidate. Together with the client, they develop job responsibilities and powers, and agree on the amount of remuneration for the candidate.
know the market in which the search will be conducted. Companies with direct search services specialize in recruiting personnel for specific industries. They understand the environment and advise the client on emerging issues;
develop an individual search algorithm. The "road map" for each vacancy is unique;
have a network of job seekers or candidates that is constantly growing and expanding, and is not visible through traditional recruitment channels. They study industry companies, professional communities, and use the agency's unique talent base;
have time to focus on finding the right people, finding out where they are and making contact;
know and understand the driving forces and motives that keep top managers in their current positions. Know how to find arguments to interest them in a vacancy;
have a channel for checking the candidate’s business reputation and receiving recommendations;
Maintain confidentiality when searching for executives. Executive Search consultants maintain top-level confidentiality of clients during closed searches. This is important for companies that are looking for a replacement for an existing manager or recruiting personnel for a sensitive position;
conduct personal interviews, analyze the candidate's motivational factors; check for compliance with the specified requirements of the vacancy; have a vision and understanding of whether the candidate shares the values of the client company and whether he will fit into a new team for him;
negotiate employment terms and resolve contentious issues. Consultants assist in the candidate's adaptation to the client's company during the probationary period;
provide a guarantee for each specialist accepted by the client.
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Difficulties of direct search
How to find a top manager and save time and money. Photo 3
It would be wrong and biased to talk only about the advantages of direct search. As paradoxical as it may sound, but in the possibilities of direct search there are hidden difficulties, which only increases the value and exclusivity of the service:
Identifying and attracting candidates who are not actively seeking a new job. This requires a significant amount of research, networking and development to identify candidates and build relationships over time.
Checking the skills and experience of the candidates found to match the advertised vacancy. This requires an understanding of the company culture and specific requirements for the position, as well as the ability to objectively evaluate candidates. Executive Search consultants conduct a discrete reference check to ensure the candidate’s qualifications.
Maintaining confidentiality is also a challenge in executive searches. The process often involves approaching candidates who are still employed and do not want their interest in changing jobs to be known. This requires discretion and confidentiality throughout the process.
Types of direct search
Direct search technology is being improved and developed. Along with the "classical" approach, derivative approaches have been formed. The choice of option depends on the initial request and the proposals of a specific recruiting company:
Direct search with a guaranteed start date at the client's company. The recruiting company undertakes to close the vacancy by a certain date. The client does not search for candidates independently and does not use the services of other agencies.
Direct search with assessment of leadership potential . Before starting work on a vacancy, the leadership level of the client's top managers is determined using a special method. Candidates are tested before meeting with the client, which increases the accuracy of personnel selection.
Direct search of increased confidentiality with strict confidentiality at all stages of work with the vacancy. The client is advised to limit the circle of persons admitted to the solution of the task and to meet with candidates on "neutral" territory to avoid publicity.
Multiple Placement (Secondary Hiring) During the search, the Executive Search consultant interviews candidates who are partially suitable for the position, but who may be of interest to the client in another position.
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